SunSirs: Agricultural and Sidelines Industries Bulk Commodity Intelligence (August 26, 2025)

Macro

1. Carbon emissions: The Central Office and the State Council have issued opinions on promoting green and low-carbon transformation and strengthening the construction of the national carbon market. The opinion mentions that by 2027, the national carbon emission trading market will basically cover the major emission industries in the industrial sector, and the national voluntary greenhouse gas emission reduction trading market will achieve full coverage in key areas. By 2030, a national carbon emission trading market based on total quota control and combining free and paid distribution will be basically established, and a national voluntary greenhouse gas emission reduction trading market will be built, forming a carbon pricing mechanism with significant emission reduction effects, a sound regulatory system, and reasonable price levels.

2. Automobile: According to data released by the China Association of Automobile Manufacturers, the new energy vehicle market in China sold 1.262 million units in July 2025, a decrease of 5.0% compared to the previous month and a year-on-year increase of 27.3%. The penetration rate reached 48.7% and remained at a high level. Among them, sales of new energy passenger vehicles reached 1.195 million units, a year-on-year increase of 25.4%; Sales of new energy commercial vehicles reached 67,000 units, a year-on-year increase of 74.9%.

3. US India tariffs: The Trump administration outlined plans to impose a 50% tariff on Indian products in a draft announcement released on Monday, the latest signal of the White House's plan to push for tariff increases.

Agricultural and sidelines

1. Soybean meal: According to the US Department of Agriculture's export sales report, as of the week of August 14th, the net sales volume of soybean meal in the United States for 2024/25 was 45,700 tons, which was 74% higher than last week but 57% lower than the four week average. So far in 2024/25, the total export sales of soybean meal in the United States have reached 15.597 million tons, a year-on-year increase of 12.8%; The US Department of Agriculture predicts a full year growth of 8.4%.

According to EU data, the total import volume of soybean meal in the EU has decreased by 6% year-on-year since 2025/26, with the share of Ukrainian soybean meal increasing.

2. Rapeseed: According to data from the European Commission, the overall import volume of EU oilseeds and vegetable oils in 2025/26 is lower than last year, reflecting an expected increase in domestic oilseed production and crushing. As of August 10th, the import volume of rapeseed from the 27 EU countries in 2024/25 (starting from July 1st) was about 330,000 tons, a year-on-year decrease of 42% and a decrease of 34% a week ago.

According to data released by Statistics Canada, the pace of Canadian rapeseed exports slowed down in the second week of 2025/26. As of the week of August 17th, Canada's rapeseed exports amounted to 91,000 tons, compared to 255,000 tons last week. The export volume for the year 2025/26 so far is 356,000 tons, a year-on-year decrease of 46.2%, and a decrease of 33.6% last week.

3. Palm oil: According to data from the South Malaysia Palm Oil Association (SPPOMMA), from August 1-20, 2025, the palm oil production in South Malaysia increased by 0.30% month on month, with a 2.12% decrease in fresh fruit skewer yield and a 0.46% increase in oil yield (OER).

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